Personal Cloud Market Global Industry Analysis and Opportunity and Forecast 2019 to 2023
- ehteshampeerzade
- Dec 7, 2020
- 3 min read
Market Highlights
The personal cloud lets user develop their own self-hosted personal cloud and is way cheaper than enterprise-level private and public cloud. They are extensively being used for file storage as they can be easily accessed from the internet without any hassles. Other advantages associated with personal cloud are faster media streaming and better privacy assurance. Moreover, investment in personal cloud eliminates the need to make an upfront investment in hardware or software. Personal cloud storage market players have introduced various affordable monthly as well as yearly plans, which has encouraged consumers to adopt personal cloud. Towering demand for personal storage, growing penetration of consumer electronic devices, and the need for disaster recovery planning are factors fostering the growth of the personal cloud market. Hard drive manufacturers are rolling out personal cloud subscription services, which are further assisting the growth of the market. However, lack of awareness might restrain the growth of the personal cloud market.
The global personal cloud market 2020 logged a CAGR of 44.3% rise in its growth from the past year, thanks in part to lift in revenue with USD 125.92 billion by 2023 from USD 14.51 billion in 2017, reveals Market Research Future (MRFR) in its comprehensive study.
Regional Analysis:
Europe, North America, Asia-Pacific, and the rest of the world are the key regions in which the study of the global personal cloud market has been conducted.
As per the study conducted by MRFR, North America has a promising future for the market rise as it is already leading the personal cloud market for the past years. The major growth factor for the region is the increased demand for on-the-go storage. As the technology is developing, various consumer electronic devices such as smartphones are running out of device storage. Such an exacerbated situation leads the manufacturers to assimilate personal cloud services to store images, videos, and other documents in a prominent way. Apple Inc, one of the foremost smartphone manufacturers at the global level, generated most of its revenue from the US and offered Apple Cloud services to its users that is efficiently driven to the customers. Apart from this, owing to the high-speed internet services in the US and Canada, it gets easier for businesses and individuals to transfer data over the personal cloud without any trouble.
Asia-Pacific region is also in the line of growing at a high pace as it is backed by developing countries such as China, Japan, and Korea known for top broadband internet. Also, higher penetration of the data centers and cloud servers is inspiring the end-users to use the personal cloud. All these factors all emerging as important ones encouraging the global personal cloud market to reach a higher valuation in the forecast period.
Segmentation:
The global personal cloud industry is segmented into cloud type, revenue type, user type, and hosting type.
By cloud type, the personal cloud market has been segmented into online cloud, NAS cloud, server cloud, home-made cloud.
By revenue type, the personal cloud market has been segmented into direct revenue and indirect revenue.
By user type, the personal cloud market has been segmented into individual, small business, medium business.
By hosting type, the personal cloud market has been segmented into providers’ hosting, users’ hosting.
Competitive Dashboard:
Sugarsync (US), Western Digital, Microsoft Corporation (US), Egnyte (US), Melco Holdings Inc (Japan), Seagate Technology PLC (US), Dropbox Inc (US), Amazon Web Services Inc (US), Apple Inc (US), Box Inc (US), and Google LLC (US) are the key players in the personal cloud market.
SpiderOak Inc (US), Dell Technologies Inc (US), Funambol Inc (US), Mega Ltd (New Zealand), F-Secure Corporation (Finland), Just cloud.com (UK), Synchronoss Technologies Inc (US), Mozy Inc (US), D-Link Corporation (Taiwan), and ElephantDrive (US) are other notable players in the personal cloud market.
Industry Updates
June 2019 - Microsoft, a leading technology company, added a new feature to its OneDrive cloud storage service called Personal Vault. Personal Vault is a partitioned sector of OneDrive account that would provide a secure solution for sensitive data by means of a strong password or two-factor authentication for entry contrary to the basic OneDrive account which needs a single password to log in.
Comments